UBL Q3 net up 17% at Rs 33 cr

United Breweries Ltd (UBL) on Wednesday said that its net profit for the quarter ended December 31, 2012 was Rs 33.52 crore, up 17.12 per cent from Rs 28.62 crore from the December 2011 quarter.

Total income was Rs 838.68 crore, down from 960.84 crore for the December 2011 quarter. Operating sales were down at Rs 771.20 crore during December 2012 quarter, down from Rs 941.69 crore.

In its filing with the BSE, the company said the figures for the two quarters are not comparable as five different were amalgamated with UBL at different dates during the previous fiscal.

UB Holdings net soars

The net profit of another UB group company, United Breweries (Holdings) Ltd, or UBHL, zoomed from Rs 3.07 crore in December 2011 quarter to Rs 38.92 crore for the quarter ended December 31, 2012.

The rise was due to a revenue spike from sale of investments, from Rs 1.60 crore to Rs 66.25 crore in December 2012 quarter.

It also reported a decline in finance costs to 42 crore, down from Rs 55.14 crore. UBHL’s auditors flagged off that it has not made provision in its books for “probable losses” due to its exposure to Kingfisher Airlines, amounting to Rs 13,536 crore.
Further, bankers and lessors have invoked bank guarantees given by UBHL on behalf of Kingfisher Airlines, amounting to Rs 964.79 crore.

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